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  • #38,501
  • Oct 9, 2008 1:11pm Oct 9, 2008 1:11pm
Interesting...that's exactly what I got cause my goal in only that much per day ... I am trying to work my way to catch up with psiholog.

I think this train will retrace a bit and take off again for 3750. Unless it break the lower wall of the (bull channel on 1 HR) it has been in the last 3 days, I still have a bull bias.




Quoting lillelise
waiting waiting...only got 40 pips today....th i didnt go short. yet..lol
  • #38,502
  • Oct 9, 2008 1:13pm Oct 9, 2008 1:13pm
im wating for a short..if it comes...there can be one soon,,,if indis does as usualy
StopLoss is for none belivers... Trust the Gurus..
  • #38,503
  • Oct 9, 2008 1:15pm Oct 9, 2008 1:15pm
im playing 1m 2m and 6m charts looks at 15m sometimes but dont like it
StopLoss is for none belivers... Trust the Gurus..
  • #38,504
  • Oct 9, 2008 1:20pm Oct 9, 2008 1:20pm
My first image that i upload , hope you like it.

It is stalling now around the pivot 1.3650 and going in upwards channel , first resistance shown at 1.3757
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd20081009.gif Size: 17 KB
  • #38,505
  • Oct 9, 2008 1:22pm Oct 9, 2008 1:22pm
Quoting kandarv
I draw the uptrend channel and the fibo, but haven't learn how to exploit Oanda graphics potential. I like psiholog charts better, what chart software do you use psiholog?
hmm i dont know how to answer your question
i use ibfx and draw all my trendlines manually
Different opinions highly valued, ignorant to slander.
  • #38,506
  • Oct 9, 2008 1:22pm Oct 9, 2008 1:22pm
that was the 30 pip...damn i didnt completly trust my own prediction..lol
StopLoss is for none belivers... Trust the Gurus..
  • #38,507
  • Oct 9, 2008 1:25pm Oct 9, 2008 1:25pm
now it go up again
StopLoss is for none belivers... Trust the Gurus..
  • #38,508
  • Oct 9, 2008 1:31pm Oct 9, 2008 1:31pm
Quoting PipGal
How about we break 37 first.

Once 1.36 goes the bears are in control...
"Timing Is Everything. Really I Swear It Is"
  • #38,509
  • Oct 9, 2008 1:33pm Oct 9, 2008 1:33pm
while i dont scalp anymore and intend to keep my position open until the void is filled(or i get stopped out)...heres what i see now.

we have done full retracement for the last small move down which had a high at 1.3665 and even broke it. considering that was the previous resistance for this to be a true break up that 1.3665 has to become support and it seems to be doing so....we break 61.8% for the last big move down from the high to current low...we shall see a new high even if it means 1pip above this weeks high. as to when we shall see this...who knows..

Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 40 KB
Different opinions highly valued, ignorant to slander.
  • #38,510
  • Oct 9, 2008 1:34pm Oct 9, 2008 1:34pm
Yeah I did that many time before, very tempting right? And you know what I got burn many times...not anymore. Here is how I think, the trend of the day is up, then just be PATIENCE and buy when they hit the low point (s) of the trend/channel. I would never go against the trend. Cause I believe, trading is a marathon not a sprint, I do not need to get all the pips However, I am working on getting to 150/day like psiholog. If I can do that then I will retire soon, very soon

Quoting lillelise
that was the 30 pip...damn i didnt completly trust my own prediction..lol
  • #38,511
  • Oct 9, 2008 1:35pm Oct 9, 2008 1:35pm
Quoting lillelise
that was the 30 pip...damn i didnt completly trust my own prediction..lol
That happend to me to, I draw the channel and open a long position. After the retracement I closed it in fear!
  • #38,512
  • Oct 9, 2008 1:43pm Oct 9, 2008 1:43pm
yep...fear...happens too often im still fighting to hold my positions..longer than i do...happens all the time i just take 4-5 pip..get nervous for a retrace.then 2-3 min after i would have had 20 damn damn damn.
everyday i tell my self..stay in.but it seems i cant..lol
StopLoss is for none belivers... Trust the Gurus..
  • #38,513
  • Oct 9, 2008 1:46pm Oct 9, 2008 1:46pm
....even in same TF for various possibilities.

In this one there is a possible H&S Formation, let's see where he wants to go now!
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 48 KB
  • #38,514
  • Oct 9, 2008 1:47pm Oct 9, 2008 1:47pm
time to jump on the train to the north for those who were late on the first one?
  • #38,515
  • Oct 9, 2008 1:49pm Oct 9, 2008 1:49pm
Quoting lillelise
yep...fear...happens too often im still fighting to hold my positions..longer than i do...happens all the time i just take 4-5 pip..get nervous for a retrace.then 2-3 min after i would have had 20 damn damn damn.
everyday i tell my self..stay in.but it seems i cant..lol
there is a simple solution to this problem, everyone has emotions when they first start to trade.

the challenge is all psychological. the idea of having real money in play is a concept many do not overcome and that is one of the main reasons they do not become successful and let fear wipe out their accounts.


i suggest you use small lots....10cents should be just right and practice letting positions run win or lose. this way you get used to being in the market with real money and fear eventually subsides which leads to being comfortable in the market. eventually emotions are not dictating your actions and you will be able to place larger lots without becoming afraid of the outcome..win or lose
Different opinions highly valued, ignorant to slander.
  • #38,516
  • Oct 9, 2008 1:51pm Oct 9, 2008 1:51pm
CLosed longs for a couple dozen pips...the charts do not warrant any further action. Getting bearish divergence on short time frame charts.

Fear potential for double bottom before real move to upside, so I think I may be done trading until next week. Kind of wierd times and the economy is not looking much better after "bailout".

I coul be wrong, but better safe than sorry.
  • #38,517
  • Oct 9, 2008 1:55pm Oct 9, 2008 1:55pm
thanks for the kind advice...i am in with real money...
i just scalp..suits my style best..thats why the 4-5 pips..
making between 50-100 pip a day
StopLoss is for none belivers... Trust the Gurus..
  • #38,518
  • Oct 9, 2008 1:58pm Oct 9, 2008 1:58pm
Quoting psiholog
there is a simple solution to this problem, everyone has emotions when they first start to trade.

the challenge is all psychological. the idea of having real money in play is a concept many do not overcome and that is one of the main reasons they do not become successful and let fear wipe out their accounts.


i suggest you use small lots....10cents should be just right and practice letting positions run win or lose. this way you get used to being in the market with real money and fear eventually subsides which leads to being comfortable in the market. eventually emotions are not dictating your actions and you will be able to place larger lots without becoming afraid of the outcome..win or lose
That's a feeling that all good traders have had to overcome, I'm sure. Great advice Psiholog.
Up or down, gimme a ticket
  • #38,519
  • Oct 9, 2008 2:07pm Oct 9, 2008 2:07pm
what a dip...anyway..good luck guys..i call it a day gotta watch a movie...
StopLoss is for none belivers... Trust the Gurus..
  • #38,520
  • Oct 9, 2008 2:07pm Oct 9, 2008 2:07pm
I see the larger EUR trend as down, and just in a short counter-trend rally up into the 1.39 - 1.42 range, before continuing down in the next move. Personally, I do not like trading counter-trend, especially complex corrective side-ways movements. I would rather wait and trade with the slope advantage. At 1.3656 now, the risk is too great.

Sentiment seems to be waiting for the G-8 meeting on Friday to deal with the credit crisis, and another meeting Tuesday to try to avert a deflationary depression. I expect a coordinated effort to prop up the dying equities, but the market is past jawboning and wants to see performance before believing any intervention will work.

USD is gaining from the deleveraging of credit contraction and carry trade margin calls. It has a long way to go, as the bottom is at least a year away.
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